India is gearing up for substantial hiring momentum as 37% of businesses set their sights on expanding their workforce to meet escalating domestic demands. This robust projection places India at the forefront of the Net Employment Outlook (NEO) among 41 surveyed nations.

The latest findings from the ManpowerGroup Employment Outlook Survey spotlight a notable surge in the outlook for January-March 2024, standing at a remarkable 37%. This marks a significant 5% uptick compared to the corresponding period last year.

Sandeep Gulati, Managing Director of ManpowerGroup India and Middle East, credits this surge to the flourishing domestic demand and sustained investments, elevating India's promise into a tangible reality amidst a stable political landscape.

India and the Netherlands take the lead with the most robust net employment outlooks at 37%, closely trailed by Costa Rica and the US at 35%, and Mexico at 34%. The global average stands at 26%.

Industries like Financial and Real Estate spearhead the positive outlook with a robust 45%, followed by Information Technology (44%) and Consumer Goods and Services (42%). Conversely, the Energy and Utilities sector records the least optimistic prospects at 28%.

Regionally, India's western and northern sectors exhibit strong job demand, registering outlooks of 39% and 38%, respectively, while the eastern region reflects comparatively weaker hiring intentions.

Despite this positive trajectory, employers worldwide grapple with talent scarcity. Japan leads the charge with 85% of employers facing hurdles in securing skilled talent, closely followed by Germany, Greece, and Israel at 82%.

In India, 81% of employers reported challenges in finding skilled talent, particularly in sectors like Transport, Logistics, Automotive, and Information Technology.

Gulati stresses the scarcity of IT talent with essential skill sets, leading to a significant shift in the realm of work dynamics.

Employers are adopting strategies like increased work flexibility and higher wages to attract talent. The survey highlights the top five in-demand skills: IT & Data, Sales & Marketing, Engineering, Operations & Logistics, and HR.

Looking ahead to 2024, employers place a premium on employee well-being, skilled recruitment, and the integration of AI and technology. Gulati underscores the importance of staff training to leverage AI effectively and identifying roles to harness this advancement.